Welcome to the Steel Market Update brand new website. It seems like we have been working on getting this site up for years when in reality it has taken but a few months. I want to take the opportunity to introduce interesting items which can be found on our new site.

There are two items of prominence on the Home Page of our website which you may find of interest. First, is the Steel Market Update (SMU) Buyers Sentiment Meter. When you first came across the website you may have noticed the arrow in the meter actually moves and displays the current reading SMU has measured as we survey both buyers and sellers of flat rolled steel products in North America. Negative readings - those on the left hand side of the meter - indicate Buyers Sentiment is pessimistic about the current situation at their company and the steel business in general. If the arrow moves to the right of the meter than buyers are optimistic about the current state of affairs at their company and within the steel market. The lowest reading we have measured to date was a negative -85.4% the week of March 9, 2009.

The second item displayed on the Home Page is our Price Momentum Indicator. The direction of the arrow displayed indicates the trend for flat rolled steel prices over the next 30-60 days. A green arrow pointing up indicates prices are trending higher. A blue arrow pointing sideways indicates a change has/is occurring and the trend is for prices to remain the same or, may be moving away from the direction of the previous trend. A red arrow pointing down indicates the trend is for prices to decline over the next 30-60 day time period.

Both the Buyers Sentiment Meter and Price Momentum Indicator can change at any point in time. However, SMU conducts market surveys every other week at which time the meter reading is adjusted based on the results of the survey. The Price Momentum Indicator is evaluated on a daily basis and adjusted as needed.

You do not need to subscribe to Steel Market Update to enjoy these services. You do not need to be a paid subscriber to SMU to participate in this Blog. We encourage the sharing of ideas with SMU as well as others involved in the flat rolled steel market in North America and around the world.

Feel free to put us in your "favorites" places on the web and recommend us to your steel friends.

Sincerely,

John Packard